In this work, an on-line preparation of peroxymonocarbonate was formed innovatively, which offered a reliable intermediate for further investigation. The forming conditions of on-line peroxymonocarbonate ions were investigated in detail. Meanwhile, the energy transfer chemiluminescent reaction of peroxymonocarbonate and the Eu(II)-dipicolinate complex was studied. Through UV-visible absorption spectra, CL method, ESR spin-trapping technique, and mass spectrum experiments, it can be concluded that peroxymonocarbonate oxidizes Eu(II) to Eu(III), and simultaneously creates radicals. The bond rearrangement within radicals formed the singlet molecular oxygen. The energy originating from the singlet oxygen was accepted by the (Eu(III)dipic) -complex. The excited (Eu(III)*dipic)-ions underwent radiative deactivation and emitted the chemiluminescence. The peroxymonocarbonate system was a simple, inexpensive, and relatively nontoxic alternative to other oxidants, and it can be used in a mild, neutral-pH environment.